Company: Meridian Bank
Symbol: MRBK
Description: Meridian Bank is a full-service, state-chartered commercial bank with offices in the greater Philadelphia metropolitan market.
Shares: 2.22 million
Price Range: $17.00-$19.00
Trade Date: 11/7
Underwriter(s): Sandler O’ Neill + Partners
Co-Manager(s): Keefe Bruyette & Woods, D.A. Davidson
Business:
As a full-service community bank, Meridian offers products to meet our retail and commercial customer’s needs through three principal business line unit distribution channels. Their primary focus is to serve small and middle-market businesses and their executives, entrepreneurs, real estate investors, professionals and high net worth individuals with a variety of financial services and solutions, while maintaining a disciplined approach to risk management. They have invested heavily in commercial lenders and operations personnel to take advantage of what they believe would be significant account turnover among banks due to local merger activity.
FINANCIALS: As of June 30, 2017, they had total assets of $780.7 million, total loans, net of fees and costs, of $648.4 million, total deposits of $559.5 million and total stockholders’ equity of $71.1 million.
Financial IPOs in 2017
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